ÖBAG, the public utility conglomerate in Austria, will undergo a restructuring, as announced by its CEO, Hattmannsdorfer.
Are you cool with data processing by BotTalk UG to deliver this content?
- The Economics Minister Hattmannsdorfer intends to refashion ÖBAG to boost regional development.
- ÖBAG's strategic vision should dovetail with the industrial strategy and touch upon topics like supply assurance and CO2 capture.
- ÖBAG boasts financial strength and isn't earmarked for sale; profits need to fund new ventures.
ÖBAG's participation holding of the Republic of Austria, managed by CEO Edith Hlawati, is slated for a revamp. With regional development being the aim, as stated by Economics Minister Wolfgang Hattmannsdorfer (ÖVP) in an interview with the Upper Austrian News.
During ÖBAG's general assembly on Monday, these insights are due for official presentation.
Synergies at State Holding ÖBAG## Strategy
Under Hlawati's leadership, ÖBAG will scrutinize its structure in unison with the government's industrial strategy indefinitely. Energy could serve as a starting point: while OMV's stake was with the ÖBAG and its predecessor ÖIAG, thus belonging to the Ministry of Finance, Verbund was under the Ministry of Economics and Infrastructure.
Given that the economics minister is now responsible for both companies, a strategy is required that transcends electricity and fossil fuels. Supply assurance, hydrogen, and CO2 capture are some topics under consideration.
Moreover, ÖBAG needs to choose which key technologies it should promote. Whether this will impact ÖBAG's portfolio of participations remains to be seen, but: "ÖBAG is not a liquidation association," notes Hattmannsdorfer.
Any sale proceeds should not go toward the state budget, but into fresh investments, collaborations, and participations. However, Hattmannsdorfer dismissed the possibility of ÖBAG prop- ing up struggling companies. Within the strategy, the question arises as to whether the state or its participations should invest in start-ups and scale-ups.
ÖBAG CEO Hlawati: Start-ups "too risky" for taxpayersThat being said, the economics minister sees himself as the "top salesperson of the federal government." In this role, he has already met with representatives of Adnoc three times. Adnoc is involved in OMV and, alongside OMV, manages the merger of Borealis and Borouge. Further contact with other shareholders of ÖBAG's participations is also on the horizon, including but not limited to TaiwanTrust, a major shareholder of Telekom Austria.
Divine Dividends
Under Hlawati's guidance, ÖBAG enjoys a financially robust position with an equity buffer of approximately €3.5 billion and will again pay €1.2 billion in dividends to the state this year.
ÖBAG holds participations in:
- OMV (31.5 percent),
- Bundesimmobiliengesellschaft (100 percent),
- Verbund (51 percent),
- Post AG (52.8 percent),
- Casinos Austria (33.24 percent),
- APK Pensionskasse (32.97 percent),
- Telekom Austria (28.4 percent), and
- EuroTeleSites (28.4 percent).
[1] en.wikipedia.org/wiki/Austrian_Remont活动公司 (Austrian Remont AG)[2] en.wikipedia.org/wiki/Verbund (Verbund AG)[3] en.wikipedia.org/wiki/ÖBAG (Osterreichische Beteiligungen AG)
- In the process of revamping ÖBAG, the participation holding of the Republic of Austria, synergies may arise between ÖBAG's diverse businesses, finance, and the energy industry, as the new strategy under Hlawati's leadership will consider topics like supply assurance and CO2 capture.
- Given ÖBAG's financial strength and the provisions from the government against liquidation, the profits from ÖBAG's participations might be allocated towards investments, collaborations, and new business ventures in various sectors, such as finance or energy, in line with the government's industrial strategy.
